HOUSE BILL 1268 |
HOUSE AUTHOR: Dukes |
EFFECTIVE: 09-01-01 |
SENATE SPONSOR: Jackson |
House Bill 1268 amends the Business & Commerce Code to make it a Class A misdemeanor for a lender, in connection with a mortgage loan transaction, to pay or offer to pay for an appraisal if the payment is contingent on a minimum, maximum, or pre-agreed estimate of the property's value and interferes with the appraiser's ability or obligation to provide an independent and impartial appraisal.